May 7, 2004 -- Over the year your business will change, but a business plan will help you set the direction. You should revisit your business plan at least yearly to ensure staying on course through an ever changing business environment.

Most business plans should include the following main sections:

• Executive Summary:  Create or update a brief summary of the key elements of your business plan, business location, owners’ names, your market and competition.

• Business Description: Write and/or update a general description of type of business, products and services, owners’ credentials and professional relationships.

• Product or Service: Include current and projected demand and comparisons to competitors.

• Management and Employees: Reflect on organizational chart and chain of command.

• Marketing Plan: Who is your target, where is it located, what are your pricing strategies, etc.?

• Competitive Analysis: List your competitors and describe how your business is different from theirs.

• Operations: How will your product be produced or services provided and how will products be distributed?

• Financials: Every business plan should include a balance sheet, statement of operations, cash flow statement and a personal financial statement.

To discuss how a business plan can positively impact your company, contact Susanne Spinell Shuster at 215-940-7806.

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